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PwC believes NFTs are the future of digital assets in sport

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According to a report by audit giant PriceWaterhouseCoopers (PwC), non-fungible tokens are the future of digital assets in sports.

The report states how digital assets will revolutionize the way fans consume and interact with their favorite sports and sports teams.

PwC explained that ticket sales, sponsorships and media rights are the current largest revenue streams for sports teams and leagues. Tokenized tickets, NFT media rights, and sponsorship of digital or metaverse events are expected to ignite rapid industry growth.

According to the consultancy, NFTs and digital assets are one of the top ten trends in the sports industry. The report lists three main use cases for NFTs ranging from altering sports technology infrastructure to promoting fan engagement and their potential to shape the future of sport.

The first use case is collectible NFTs, which are assets used to sell authenticated, collectible, and limited edition digital content. This can refer to traditional memorabilia like historical event ticket stubs or player trading cards that are minted and traded on the blockchain.

Another relatively large use case is subscription member NFTs. These NFTs will provide ticket members with verified token passes that will allow them to log in and enjoy exclusive fan experiences.

Subscription members would not only be able to unlock additional content and experiences in the stadium, but may also have the option to receive special edition collectible NFTs.

The latest use case covered in the report includes virtual access tokens that will allow fans to virtually watch matches and matches if they are unable to do so in person.

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